Global steel demand to drop 6% in 2020 due to Covid-19, Worldsteel says
Published: Friday, 05 June 2020
Global demand for steel will decrease by 6.40% year-on-year in 2020 due to the effects of Covid-19 pandemic lockdown measures, the World Steel Association (Worldsteel) said on Thursday June 4.
Steel demand this year will drop to 1.65 billion tonnes,
Worldsteel said in its Short Range Outlook for June 2020, but
will recover in 2021 to 1.72 billion tonnes, which would be up
by 3.80% year-on-year.
This year’s reduction in global steel demand